Bank of Russia Releases Draft on Banks’ Crypto-Asset Risk Measurement

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【Russian Central Bank Plans to Standardize Banks’ Crypto-Asset Risk Measurement】

Russian Central Bank September 18 released a draft proposing to measure relevant exposures through two ratios, N31 and N32, based respectively on the own funds of individual credit institutions and the consolidated capital of banking groups. The scope includes direct investments, derivatives linked to crypto-asset prices, and loans, bonds, repos, and other instruments whose settlement or value depends on crypto assets. Customer assets held in custody by digital-asset custodians within a bank or group, where the bank or group bears the losses, will be included; assets for which it does not bear the losses will be excluded but will remain subject to 50%risk weight. Positions held for the bank’s own account and customer holdings for which the bank bears responsibility will be subject to 1250%risk weight. The draft is scheduled to be formally released in the fourth quarter of 2026 and will take effect 10 days after publication. Banks are expected to begin reporting N31 and N32 values from 2027 year January onward.

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Key points

Russian Central Bank September 18 released a draft proposing to measure relevant exposures through the N31 and N32 ratios.
N31 is measured based on the own funds of an individual credit institution, while N32 is measured based on the consolidated capital of a banking group.
The scope includes direct investments, derivatives linked to crypto-asset prices, and loans, bonds, repos, and other instruments whose settlement or value depends on crypto-assets.
Proprietary positions and client holdings for which the bank bears responsibility are subject to 1250% risk weighting.
The draft is planned to be 2026 officially released in Q4 of the year, and will take effect 10 days after release. Banks are expected to begin reporting 2027 in January the year onward, reporting the N31 and N32 values.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

This draft proposes requiring banks to use ratios to measure cryptoasset-related risks and to apply risk weights based on different assets and liability arrangements.

Why it matters to readers

The rules may affect how banks calculate and report crypto-asset-related exposures.

N31 and N32 can be understood as indicators used to measure banks' cryptoasset risks.

Risks and unknowns

It has not yet been confirmed whether the draft will be issued and take effect as planned.
The evidence does not specify the calculation formulas for N31 and N32.

Bank of Russia Releases Draft on Banks’ Crypto-Asset Risk Measurement

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